Investing.com - The dollar slipped on Tuesday after the euro rallied from a one-week low.
Investor worry eased slightly as political pressure in Germany continues. The latest European political turmoil hit on Sunday, when German Chancellor Angela Merkel said she could not form a coalition government after talks collapsed. Uncertainty remains over whether a snap election will be called in 2018, with Merkel saying she would prefer a new election to ruling with a minority.
EUR/USD was up 0.03% to trade at 1.1736 as of 12:07 PM ET (5:07 PM GMT). The euro was also up against sterling, with EUR/GBP increasing 0.09% to 0.8874.
Meanwhile the U.S. dollar slipped despite upbeat economic data. U.S. existing home sales increased more than expected in October, as hurricane related disruptions eased. The National Association of Realtors said that existing home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.48 million units last month.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.10% to 93.91. The dollar was also low against the Japanese yen, with USD/JPY decreasing 0.12% to 112.48.
Investors were looking ahead to remarks by Federal Reserve Chair Janet Yellen later on Tuesday, while the minutes from the Fed's November meeting were scheduled to be released on Wednesday.